Condo supply up 19 percent in Q4 2018: CBRE

The condo supply in Phnom Penh increased by nearly 19 percent in the last quarter of 2018, with 2,234 new units joining the market, according to CBRE’s latest report.

Eight new projects were completed in Q4, CBRE said.

The mid-range segment – with the completion of projects like East View, Sky 31, and The View – saw the highest influx, accounting for over 40 percent of all completed stock in the quarter.

The affordable segment also witnessed a high influx, with 870 new units, 78 percent of which were located in Sen Sok district.

The report also points out that the largest condo project completed in the quarter belongs to the affordable segment. Sen Sok Town III added 468 units to the market, approximately 20 percent of the total supply to enter the market during the quarter.

Meanwhile, six new condo projects were launched during Q4, totalling around 2,000 units. Over half of the stock was launched by R&F Properties, which introduced R&F Glory (Phase 1) and R&F City (Phase 2), comprising 440 and 792 units, respectively, according to the report.

Again, the mid-range segment dominated the market, accounting for 1,232 units. New launches were seen in Daun Penh, Chroy Changvar and Meanchey districts.